Oil prices fall amid further fears of oversupply

"A decision will have to be made against a background of strong US shale oil supply growth, and for now, weaker expectations on global oil demand growth".

"I explained to (Suarez) the results of the OPEC+ agreement on the stability of oil markets, which serves the interests of producers, consumers and investors and supports the global economy", he wrote. Even if production is cut, concerns about slowing demand could still weigh on prices..

On Thursday, the price of NY crude ducked below $50 per barrel for the first time in nearly 14 months.

Friday's price fall has increased the stress over OPEC in front of an awaited meeting between the OPEC and its associates to be held on December 6 in Vienna, where they are expecting to declare the decrease in the oil output for the year 2019.

Despite US sanction over Iranian oil, the OPEC output remains plentiful and the oil price have plunged 30% since early October and US oil reserve has reached a record high.

Production increased 1.1 percent from August and 21 percent a year ago, led by Texas, North Dakota and Alaska, countered by a drop in Gulf of Mexico output.

Global benchmark January Brent crude LCOF9, -1.39% which expired at the end of the session, lost 80 cents, or 1.3%, to $58.71 a barrel.

An agreement to cut oil production by some 1.8 million barrels per day - struck in late 2016 by OPEC and other world producers led by Russian Federation - is paying dividends, Al-Falih tweeted.

Novak also said he was set to meet his Saudi counterpart during the G20 Summit, with 2019 oil output cut a key focus. CME Group's OPEC Watch Tool pegs the probability of a small production cut at 52%, with expectations for little or no change at almost 48%.

The oil reserves in the US increased by 3.6 million barrels in the week to 23 November to 450,49 million barrels, according to the worldwide energy Agency. The contract has climbed about 41% this monththe largest monthly rise in about nine years.

UEFA has also confirmed that no nation will qualify automatically as hosts for the first time in the competition's history. The Irish are now in Group D where they will face Switzerland , Denmark , Georgia and Gibraltar.

The leaders of Congress from both parties say an arrival ceremony will be held for the former president on Monday at 5 p.m. Trump repeatedly dismissed his competitor as "low energy", and Bush was one of the first to drop out of the primary race.

President Trump is expected to meet with Chinese leader Xi Jinping at the G20 summit in Buenos Aires , Argentina Saturday night. Duties of 10% now on most of those goods are set to rise on January 1, 2019 to a whopping 25% if a deal isn't reached.

Will Oklahoma join Alabama, Clemson, Notre Dame in CFP?
They were four coming into the week and I don't know how they can go backwards. "I'm so happy, so happy for everybody". When he trotted off the field after the winning TD, Tagovailoa was one of the first ones to greet him on the sideline.